Retailers today must restructure their store portfolio and adapt to an integrated, multichannel environment to avoid the risk of joining the ever-growing list of brands disappearing from the high streets.
Retail sales volumes are slowing and profitability is under pressure. Add to this, the mindset of “more is more” that leads to overstoring and diminishing profit margins. So what should retailers do? Accenture recommends that to gain competitive advantage, retailers should remove their cultural bias toward expansion—in the estate footprint, physical store keeping units (SKUs) and online—and view store allocation in a multichannel environment.